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Property developers move to small Thai islands to cope with privacy demand

Property developers move to small Thai islands to cope with privacy demand

Property development in Phuket is expanding to four small nearby islands because of the demand for privacy.

Investments
worth around 20 billion baht are currently underway. They include the
huge Indian conglomerate Tata Group which is developing Taj Exotica
Resort and Spa. The 100-room hotel and 19 villas are expected to be
complete late next year.

Thai Prime Minister Samak's nephew
Dilokpol Sundaravej and a Canadian partner are developing a project on
Koh Raet northeast of Phuket and on Koh Maphrao a British investor has
started developing The Village which consists of 62 villas.

A
group of local Phuket investors are seeking foreign investors for the
development of a hotel and villas on Koh Mai Thon, southeast of Phuket.

'It's
a trend toward private islands,' said Risinee Sarikaputra, head of
research at property consultant Colliers International Thailand.

'World
celebrities, Hollywood stars and people in the ultra high-end segment
love privacy and prefer buying into a resort on a private island where
no one can interfere with them. That's why many property developers are
moving to small islands,' she added.

The trend has already
emerged on small islands in the Gulf of Thailand, including Koh Kood
near Koh Chang where Six Sense opened Soneva Kiri resort. On Koh Tao
near Samui an overseas fund is starting a project and new hotel
developments have started on Koh Phangan.

In Phuket, there are
at least 17 residential projects in the pipeline with a total of 969
units worth more than 20 billion baht which will be completed in the
next few years.

Land prices on Phuket's west coast with good sea
views climbed by 30 to 40% year-on-year but there is no availability of
such plots of land for future development.

The trend in Phuket
also point to demand for projects integrated with hotels and managed by
the same group that manages the hotel and the letting of property.

Phuket
tourism is expecting a further boost when two new marinas are built
making a total of five with a total of 800 yacht berths.